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This Alpari review might shock you that they have been in the field for over 25 years since 1996. Alpari has grown to be global online financing and trading platform. It offers its traders and clients a diverse range of assets they can trade.
Alpari had come far from when it was founded and now offers its traders a choice of trading with forex instruments. This Alpari broker review will look at some of the major considerations and whether it is a broker that can be trusted or not.
So let’s do this.
Regulations and Security
Alpari is a multi-asset trading broker that is regulated by the Financial Services Authority within the same region where it is situated.
It has taken a lot of steps to ensure that its customer’s funds are as secure as they possibly can be. It has an anti-money laundering policy that secures the money of those that invest with the company. Also, it is a member of the Registrar of International Business Companies, still under the FSA.
It is a company that cannot manipulate the market thanks to the regulations it has to operate under. They offer negative balance protection to all their clients, and clients have a right to raise complaints against the broker.
However, they slightly go over the normal industry requirement for client fund protection standards and have their policies preventing it. So far, Alpari International is a legit broker and not a scam.
Alpari Trading Accounts
Alpari offers a basic demo account open to all clients, allowing people to trade without risking their capital. This account is open and is not limited to a specific time.
Also, they have four types of live accounts. These include the Standard, ECN, Micro, and Pro accounts. The standard account can be found on the MT4 platform, similar to all the other accounts.
The accounts, however, vary from one to the other in the minimum deposit they offer and the spread that they charge as follows:
- Standard Account- The minimum deposit required is $100 and charges a spread of 1.2 pips and floating leverage of 1:1000
- Micro Account: The minimum deposit is $1,000, charges spreads of 1.7 pips and a fixed leverage of 1:400
- ECN Account: Has a minimum deposit of $500, charges spreads of 1.4 pips, and has a floating leverage of 1:1000
- Pro Account: Has a minimum deposit of $25,000, charges spreads of 0.4 pips, and has a floating leverage of 1:300
Fees, Commissions, and Spreads
Alpari charges a commission on the ECN account alone. The charge is $1.5 for every lot. On the other hand, Alpari’s review shows that they do not charge deposit and withdrawal fees.
They still charge an inactivity fee of five euros for six months of inactivity. If a person wants to withdraw an amount from an inactive account, they will incur a few of 3% of the total amount to be withdrawn.
The spreads charged by the company are average. This is because they majorly make money from the commissions they take from the ECN account and the money they make from the spreads. They are transparent in their dealings, making them some of the best brokers.
Alpari offers a trading platform on MT4 and MT5 alone. Clients can access their trading through these platforms via their web trader, android, iPhone, and desktop versions. They come with many different features accessible to all the clients regardless of the type of account they have with the company.
They further allow for copy trading and a wide range of people selling their signals through their accounts.
A client can reach the customer service center through email, live chat, and through. The live chat operates fairly and has a fast response time. The phone is a bit lower, but I could get through to them after a few tries.
Lastly, emails are fairly fast as you can get a response within the day. The information they offer is educative and informative.
If you think of having a company that replies fast to inquiries and a company with the required experience of over two decades on the market, then this company is good. They offer a wide range of assets and instruments to trade from and multiple payment methods, including cryptocurrency.
Take your time, go through their site and follow the easy signup procedure since it is a great broker in the forex market.
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